DayStar gets $5 million and deadline extension

DayStar Technologies Inc. in Halfmoon now is being given until December to raise $25 million by a hedge fund that set today as a deadline to obtain the money.

The hedge fund, Lampe, Conway & Co. LLC lent the solar-cell manufacturer $4 million in June. That loan agreement stipulated that DayStar raise $25 million in equity financing by a certain date. The deadline had already been extended to today.

In a filing with the Securities and Exchange Commission, DayStar said the deadline was once again extended, to Dec. 15.

DayStar was also lent an additional $5 million.

Last month, DayStar filed stock registration documents with the SEC indicating that it wanted to raise as much as $35 million, but that sale has not gone through.